Ukraine Creditor Proposal Said to Cut Coupons, Extend Debt
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The first proposal by a group of Ukraine’s creditors to restructure about $20 billion of debt would extend maturities as much as 10 years and reduce interest payments, a person with knowledge of the committee’s thinking said.
While the government in Kiev rejected the bid and stuck to a demand for principal reductions, analysts say it marks a productive start to meeting International Monetary Fund targets and clearing the way for aid to lift Ukraine’s economy out of a recession. Intensive talks between advisers will happen next week, the Finance Ministry said in an e-mailed statement. The nation’s debt rallied the most in five weeks.